HNA Holdings received the "Administrative Penalty Prior to Administrative Penalty": Related punishment is about to land, the stock price daily limit

The CSRC intends to warn ST HNA with a total of 3 million yuan in fines; a warning to Xu Jun, a fine of 1 million yuan, warning Liu Zhi Jing and others, and imposing fines to varying degrees.

Author: Monday Sail

Figure: Tuwa Creative

On August 11th, ST HNA (600221.SH, Hainan Airlines Holdings Co., Ltd.) issued an announcement saying that December last year was investigated by the CSRC due to suspected information disclosure of laws and regulations. Received the "Administrative Penalty Prior to Administrative Penalty" (hereinafter referred to as the "Notice").

Affected by this news, on August 11, ST HNA rose a daily limit. As of the day's close, it was reported to 1.38 yuan/share. The current total market value is about 45.9 billion yuan. In addition, although the ST foundation (600515.SH) and ST Haitou (000616.SZ), which were established in the same period last year, have not disclosed the results of the penalty, their stock prices have also received daily limit.

According to the "Notice", after investigation, HNA Holdings is suspected of the following illegal facts: HNA Group Co., Ltd. (hereinafter referred to as HNA Group) through the "HNA Group-Institute/Industrial Group-Single Company" three-story management structure, the actual management company of the subordinate company Essence Financial implementation of the group integration, verticalization, and three -layer control and management: implement cash flow integration management in funding, and funds are uniformly allocated by HNA Group. HNA Holdings belongs to the aforementioned "single company", which lacks independence in financial management and control. It has been completed and controlled by HNA Group organizations and control. As a result, HNA Holdings did not disclose non -operating affiliated transactions and association guarantees in accordance with regulations.

In terms of non -operating affiliated transactions, the Securities Regulatory Commission believes that 65 companies including HNA Group and Beijing Jixin constitute the related parties of HNA Holdings. From 2018 to 2020, there were 2,849 non -operating affiliated transactions such as HNA Holdings and HNA Group, such as HNA Group, with a amount of 1,65.215 billion yuan, of which the funds were loan of 138.457 billion yuan, the foreign guarantee funds were deducted 18.479 billion yuan, and the debt was 74.799 100 million yuan, 800 million yuan in debt. The above -mentioned affiliated transactions occurred under the requirements and arrangements of the HNA Group. There was no commercial essence. It belonged to non -operating affiliated transactions and constituted capital occupation.

Secondly, in accordance with the provisions, the association was not disclosed, and after investigation by the Securities Regulatory Commission, from January 1, 2018 to December 31, 2020, HNA Holdings had 197 unreasonable associated guarantees, with a total guarantee amount of 39.573 billion yuan.

In the "Notice", the CSRC stated that Xie Haoming, Xu Jun, and Liu were directly responsible for the illegal acts of non -operating affiliated transactions and fund occupation of ST HNA. Responsible personnel; illegal acts that disclosed the guarantee of ST HNA illegally, Xie Haoming, Xu Jun, and Liu Zhijing were directly responsible for the supervisors. Responsible person.

Therefore, in terms of specific penalties, the CSRC intends to give ST HNA a warning with a total fine of 3 million yuan; warning Xu Jun, a total of 1 million yuan, and Liu Zhijian, Chen Ming, Zhang Zhigang, Ma Zhimin, Li Xiaofeng, Zhang Hongqing, Zhao Guogang , Xiao Fei, Xie Haoming, and Sun Dong warned and fined to varying degrees.

According to another announcement issued by ST HNA in the same period, among the related personnel of the above -mentioned illegal acts, the company's director Xu Jun, Chen Ming and vice president and secretary of the board of directors Li Xiaofeng have submitted a written resignation report. At this point, all 11 company executives involved in this letter have left the key positions of ST HNA.

ST HNA Board believes that "the" Notice "received this time does not touch the major illegal forced delisting situation stipulated in the" Shanghai Stock Exchange Stock Listing Rules ".

Since then, historical issues such as ST HNA have not disclosed non -operating affiliated transactions and related guarantees have basically been solved. According to relevant regulations, ST HNA can apply to the Shanghai Stock Exchange for picking up a hat after the investigation of the CSRC.

Previously, on May 19th, HNA Holdings A shares have been changed from "*ST HNA" to "ST HNA"; B shares B -shares have been changed from "*ST HNA B" to "ST HNA B".

In order to further understand the company's future business plan, the reporter has called ST HNA many times, and has not been connected as of the time before press time.

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